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A comment on Bitcoin hash-rate exceeds total computing power of all the world’s computers. Parent comment
http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.105...
In other words, you can set things up so that no single authority can fail in a way that would cause the entire system to fail. You can have N authorities such that a minimum of K are needed to keep the system working.
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http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.105...
In other words, you can set things up so that no single authority can fail in a way that would cause the entire system to fail. You can have N authorities such that a minimum of K are needed to keep the system working.